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Headline: From single names to exotics Source: Euromoney Date: June 2001
These instruments are often poorly understood by outsiders. But a plain-vanilla single-name credit-default swap is a very straightforward contract. The complications arise when the swaps are embedded in larger financial structures or are linked to more than one name. A credit-default swap works like an insurance policy. | |||||||||||||||||||||||||||||||||||||||||
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